Every time Eurocrats declare that the economic crisis is over, it comes back with a vengeance. For six years, the Brussels elites have been periodically assuring us that the Eurozone has shaken off the bug; yet, like some chronic condition, it keeps returning. Usually in Greece.
Yesterday, Greeks voted for a party that, though it says it wants to keep the euro, rejects the conditions that the other members have set. In particular, it insists on a big debt cancellation. (more…)
Citizen-run health clinics, food centres, kitchens and legal aid hubs have sprung up to fill the gaps left by austerity – and now look set to play a bigger role under a Syriza government
“A long time ago, when I was a student,” said Olga Kesidou, sunk low in the single, somewhat clapped-out sofa of the waiting room at the Peristeri Solidarity Clinic, “I’d see myself volunteering. You know, in Africa somewhere, treating sick people in a poor developing country. I never once imagined I’d be doing it in a suburb of Athens.” (more…)
China’s president, Xi Jinping, calls it the “new normal” – but strikes are increasing, wages going unpaid and businesses are struggling to survive as the vast economy adjusts to a more sedate pace of growth after more than a decade of explosive expansion.
Official figures published last week showed that China’s GDP expanded by 7.4% in 2014. That was a significant drop from the 7.7% seen in 2013, and the weakest rate of growth since 1990, when the country was grappling with international sanctions in the wake of the Tiananmen Square massacre. (more…)
Iran is stopping mutual settlements in dollars with foreign countries and agreements on bilateral swap in new currencies will be signed in the near future, the Central Bank of Iran (CBI) has said.
“In trade exchanges with foreign countries, Iran uses other currencies, including Chinese yuan, euro, Turkish lira, Russian ruble and South Korean won,” Gholamali Kamyab, CBI deputy head, told the Tasnim state news agency. (more…)
A bill filed in the Utah state house yesterday would deny critical resources – like water – to the massive NSA data center there should it pass.
House Bill 150 (HB150), introduced by Rep. Marc Roberts, would require that the water being supplied to the NSA’s data center in Bluffdale be shut off as soon as the city’s $3 million bond is paid off. (more…)